fbpx 54042-001: Follow-on Investment in OrbiMed Asia Partners IV | Asian Development Bank

Regional: Follow-on Investment in OrbiMed Asia Partners IV

Nonsovereign (Private) Project | 54042-001 Status: Proposed

OAP IV will target primarily growth equity private investments in companies across the healthcare industry. A majority of these investments will focus on the continuing growth in demand for higher quality, affordable healthcare in the People's Republic of China (PRC) and India. The Fund may also selectively consider opportunistic investments in certain developing countries in Asia outside PRC and India.

Project Details

Project Officer
Mahmud, Farshed Private Sector Operations Department Request for information
Country
  • Regional
Sector
  • Finance
 
Project Name Follow-on Investment in OrbiMed Asia Partners IV
Project Number 54042-001
Borrower/Company Orbimed Advisors LLC
Country Regional
India
China, People's Republic of
Location China - Nation-wide; India - Nation-wide
Type or Modality of Assistance
Equity Ordinary capital resources USD 75.00 million Approved
Strategic Agendas Inclusive economic growth
Drivers of Change Partnerships
Private sector development
Sector / Subsector

Finance / Infrastructure finance and investment funds

Health / Health system development

Gender Equity and Mainstreaming Some gender elements
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Investment Funds & Special Initiatives Div
Responsible ADB Officer Mahmud, Farshed
Project Sponsor(s)
Description OAP IV will target primarily growth equity private investments in companies across the healthcare industry. A majority of these investments will focus on the continuing growth in demand for higher quality, affordable healthcare in the People's Republic of China (PRC) and India. The Fund may also selectively consider opportunistic investments in certain developing countries in Asia outside PRC and India.
Objectives and Scope The fund will target investments in several healthcare sub-sectors, including biopharma, medical technology, healthcare services, diagnostics and distribution
Linkage to Country/Regional Strategy The investment is consistent with ADB's country partnership strategy for India, 2018-2022 and country partnership strategy for the PRC, 2016-2020, which include support for the countries' health sectors as strategic priorities. The investment in OAP IV is consistent with ADB's operational plan for health, which strongly supports private sector approaches to improve quality, affordability, and accessibility in the health sector.
Safeguard Categories
Environment FI
Involuntary Resettlement FI-C
Indigenous Peoples FI-C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 24 Jun 2020
Credit Committee Meeting 18 Sep 2020
Approval 23 Oct 2020
Last PDS Update 23 Oct 2020

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

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Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

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Related Publications

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Investment disclosure: The subprojects listed below provide a status update of OrbiMed Asia Partners IV portfolio as of 1 March 2021.

Investment Name Country of Investment Sector Background Environment Safeguards Category Involuntary resettlement Safeguards Category Indigenous Peoples Safeguards Category Status
Angitia Biopharmaceuticals (Guangzhou) Limited People's Republic of China Biotechnology Angitia is a developer of innovative drugs for treatment of musculoskeletal diseases C C C Active
BioNova Pharmaceutical Ltd. People's Republic of China Biotechnology BioNova is a developer of innovative medicines for treatment of cancer and other life-threatening diseases with high unmet medical needs in China C C C Active
BioShin Limited People's Republic of China Biotechnology BioShin is a developer of medicines (Biohaven's portfolio) for use in the Asia-Pacific Region C C C Active
Shenzen Dami & Xiaomi Healthcare Technology Ltd People's Republic of China Healthcare Service Dami & Xiaomi is a healthcare services provider for children suffering from Autism Spectrum Disorder (ASD) or other developmental disabilities C C C Active
Sichuan Good Doctor Cloud Health Technology Limited People's Republic of China Health technology Sichuan Good Doctor Cloud Health provides cloud-based services including tele-medicine, nurse pracitioners, and clinical testing for primary care clinics in China C C C Active
ReLIA Bioengineering Co., Ltd. People's Republic of China Medical devices ReLIA is a manufacturer of point-of-care tests for diagnosing cardiac and hematology conditions C C C Active
Zentera Therapeutics People's Republic of China Biotechnology Zentera is a developer of innovative drugs for treatment of cancer in China C C C Active
Zhejiang Zylox Medical Device Limited People's Republic of China Medical devices Zylox is a leading neurology and vascular intervention medical devices manufacturer in China C C C Active